Post
Topic
Board Economics
Re: Are Cryptobanks Future?
by
Yatsan
on 27/10/2019, 08:59:07 UTC
I think the future of the bank will have a blockchain technology that develops payments into cryptocurrency and will reduce the use of paper currencies because all payments will use digital currency methods which prove to be more efficient and can improve the economy of the country.
That's right, but we still need to have paper money. Both of the currencies, whether crypto or fiat, are important in our economy. Cryptocurrency is needed for a fast and large volume of transactions. However, fiat is needed for micro transaction and for cash on hand. We cannot fully depend on crypto because it's still had a downside. For example, not every individual has a device or internet, and it's not convenient for paying crypto when buying goods, for example, a single candy. We need both of the currency, both of them will benefit one's country economy.